Short Interest in Rare Element Resources Ltd. (OTCMKTS:REEMF) Drops By 89.0%

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 1,782 shares, a drop of 89.0% from the December 15th total of 16,155 shares. Based on an average daily volume of 749,808 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 749,808 shares, the short-interest ratio is presently 0.0 days.

Rare Element Resources Price Performance

OTCMKTS:REEMF traded up $0.05 during mid-day trading on Monday, hitting $0.82. The company’s stock had a trading volume of 582,733 shares, compared to its average volume of 533,644. Rare Element Resources has a 1 year low of $0.41 and a 1 year high of $1.92. The stock has a market cap of $425.27 million, a price-to-earnings ratio of -82.40 and a beta of 0.98. The business’s fifty day moving average is $0.91 and its two-hundred day moving average is $1.00.

Rare Element Resources Company Profile

Rare Element Resources is a U.S.-based exploration and development company focused on rare earth element deposits. The company’s flagship asset is the Bear Lodge project in northeastern Wyoming, which hosts both light and heavy rare earth oxides such as neodymium, praseodymium and dysprosium. Rare Element Resources is working to advance this project through feasibility, permitting and eventual commercial production to establish a domestic supply of critical minerals.

Incorporated in the mid-2000s and headquartered in Highlands Ranch, Colorado, Rare Element Resources has conducted extensive drilling, metallurgical test work and engineering studies to refine its processing technology.